I wonder how many of the negative commenters on this thread are either citizens or permanent residents. I don't see why a techie who is not yet a citizen or permanent resident of US, and wants to be one, would be so negative about this proposal.

At worst this can lead to a few lucky immigrant founders who get free visas, but at best, this can do a lot of good to the country in terms of creating new jobs, and to the startup ecosystem (and to YC -- so what!).